not rationalize the positive comovement of consumption and investment observed in recessions associated with an epidemic …We analyze the effects of an epidemic in three standard macroeconomic models. We find that the neoclassical model does … flexible. Finally, sticky prices lead to a larger recession but do not fundamentally alter the predictions of the monopolistic …

not rationalize the positive comovement of consumption and investment observed in recessions associated with an epidemic …We analyze the effects of an epidemic in three standard macroeconomic models. We find that the neoclassical model does … flexible. Finally, sticky prices lead to a larger recession but do not fundamentally alter the predictions of the monopolistic …

, especially output, capital stock, investment and consumption, which helps the model match data better. …